U.S. companies issue shares at fastest rate ever, selling the rally

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U.S. public companies sold more than $60 billion in shares in May, the biggest monthly haul ever, as they capitalized on a stock market rally fueled by hopes that the COVID-19 pandemic is subsiding.

“We’re talking to a lot of companies around the fact that the market is here, you don’t know what lies in the economy to come,” said Ryan Parrish, head of Americas equity capital markets syndicate at Bank of America . “If you even remotely have a need you should get it done now.”

The share sales echo a similar trend in U.S. debt markets, where companies have raised more than $1 trillion so far in 2020. As in debt markets, the balance of companies selling new shares has shifted from those facing an imminent cash crunch to those stocking up on rainy day funds. “There are a whole host of companies that have been hugely impacted by COVID-19 and have had to recapitalize,” said Santosh Sreenivasan, head of equity-linked capital markets for the Americas at JPMorgan Chase & Co.

“Issuers that have seen their stock prices recover are now also taking the perspective that they don’t want to miss this window in case this rebound is short-lived,” Sreenivasan said.

Source: News Formal (newsformal.com)


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That dilutes they’re worth right?

The begining of the end ... For finance and monetary uncontrollable race ...

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